"Go forward and be eaten by wolves; go back and be a failure," says the signpost in the dark, scary forest. This is the stark choice facing Prince Ivan, charged with finding and capturing the beautiful golden firebird, which has been nicking the gold apples from the tree in his father's private garden. It is the Prince's last chance to prove himself to a father who thinks he is a bit of a waste of space and who far prefers his daughter, the rather tricky princess Katooshka, who doesn't miss a chance to put her brother down and prove her superiority, by fair means or foul.
Neil Duffield's version of this traditional Russian folk tale is being performed all over the country this year, from the Home Counties to Scotland - and deservedly so. It is witty, wise and full of wonders, a really delightful little show that in Robert Horwell's production crackles with life and music, and is full of the rich jewel-like colours of Russian art.
Prince Ivan is up against the wicked witch Baba Yaga and Koschei the evil sorcerer, who plans to live forever and has captured the Princess of Incomparable Beauty; he will only let her go if she can discover where his death is hidden. But most of all, Ivan is up against himself and his own lack of confidence and self-worth. In the end he triumphs not just against bad magic and his bad sister but against his own bad karma.
It may all be obvious, but it is beautifully done, in a script that combines the comic and the serious and that is open-ended enough to allow for different interpretations and performance styles. As is often the case at the Watermill, this is a real ensemble affair performed by a generous cast who interact well with the audience.
Rebecca Jackson has great fun as the nasty Princess Katooshka and as the seriously nasty Koschei, who has hidden his darkest secret in the tears of the Princess of Incomparable Beauty.
· Until January 11. Box office: 01635 46044.